Reliance Industries Limited, through a subsidiary, has agreed to subscribe to a five percent equity stake in Eros International Media Limited at a price of fifteen dollars per share, which represents an 18 percent premium over the stock’s last closing price. The transaction is subject to customary regulatory and other approvals. Furthermore, RIL and Eros announced that they have agreed to partner in India to jointly produce and consolidate content from across India.
Distribution & Exhibition
Cinema software firm Vista Group International has bought back 7.9 per cent of its Chinese entity for $7.7 million, leaving it with 47.5 per cent of the business and allowing it to treat the division as a controlled entity within the group
Helios and Matheson Analytics has increased its total ownership of the outstanding shares of MoviePass’ common stock (excluding shares underlying MoviePass options and warrants) to approximately 78 percent. The increase in ownership stems from cash advances provided by HMNY to MoviePass, from time to time, from December 19, 2017 through February 15, 2018.
Volfoni today announced that it has voluntarily withdrawn its opposition against the granting of RealD’s patent no. EP2067066 in Europe. Volfoni made this strategic business decision due to the fact, the company says, there is no infringement between Volfoni’s current generation of products and RealD’s patent.
Éclair has appointed Dan Clark as its commercial director in the United Kingdom. Clark started his career in 2001 with Kodak Motion Picture as feature and short film manager before becoming post-production and digital cinema manager, and then technical manager.
CJ4DPlex’s immersive cinema technology 4DX with ScreenX is among the contenders for the top prize in the Media and Visual Communication – Entertainment category at this year’s Edison Awards. The annual awards, which recognize the most innovative new products in the world, will be held on April 11th in New York City.
Harkness Screens has been confirmed as an Official Supplier to the 68th Berlin International Film Festival (Berlinale) February 15-25.
RealD announced today that the European Patent Office’s Opposition Division has upheld the validity of one of the company’s key patents for light-doubling 3D cinema projection systems. Volfoni and MasterImage had both challenged the EPO’s grant of RealD’s European patent, which covers optical architectures in light-doubling 3D cinema systems.
CinemaNext has signed a distribution deal with Spanish seating supplier Ezcaray International recognizing CinemaNext as an official distributor in 17 European countries as well as in the US, Russia, Egypt, Kazakhstan and Morocco. CinemaNext is currently the exclusive reseller of Ezcaray’s full range of seating products for cinema in Germany.
The International Union of Cinemas (UNIC), the body representing European cinema trade associations and key operators, today released its provisional update on admissions and box office revenues across Europe for 2017.